Seth Kleinman Quotations

Overnight the market priced in a catastrophe, but it doesn't look like that's actually what happened - especially on the crude side,

There has been increasingly bearish news in the energy sector over the last couple of weeks,

Every kink in the supply chain is royally messed up right now. This is a real big problem.

Equities have been hammered, reflecting the broader financial community's view that energy is at its peak.

There's just not that many corners of the world left to go drill holes in anymore,

It wouldn't surprise me if we're back at $70 by the end of this week. I think that we're headed toward $80 by the end of the year.

This is a big deal. This is going to hurt.

A lot of refiners need to buy sweet crude. There's a situation where refiners are simply in a bit of a bidding war.

It's not just warm weather in the U.S.; we have warm weather in all the major consuming regions, Europe and Asia. Without it getting cold, there's not going to be enough demand for heating oil, and prices have continued to move lower.

It's almost certain that when it does get cold, assuming it gets cold in the next few weeks, things are going to bounce. The critical question is whether we bounce from $60, whether we hold on to that, or we bounce from something closer to $55. I think we have more to move on the down side.

The next couple of weeks are going to be very, very difficult.

The world is pretty well explored right now.